To allow approximately $2,325,000 annually for unrestricted general revenue purposes such as police, fire, paramedics, parks, and senior services while stabilizing electric utility rates, shall an ordinance be adopted authorizing a transfer not to exceed 7.5% of annual electric utility gross revenues to the City's General Fund until December 1, 2021 and 5.5% thereafter, for unlimited duration, and establishing a rate freeze for 3 years, except as needed for financial emergency or bond covenants?
2, Riverside County • 2018 • M
Failed
Result: 48.8% yes, 51.2% no (8,158 votes cast)
AI-generated plain-language summary
This measure would have authorized the transfer of up to 7.5% of electric utility gross revenues to Riverside's general fund through 2021 and 5.5% thereafter, generating approximately $2.3 million annually for city services while implementing a three-year rate freeze. The measure failed with 48.8% support in 2018.